• Bengaluru-based fintech Scapia has raised $40 million in a Series B funding round led by Peak XV Partners to enhance its AI-driven travel and financial services.
  • The funding will support product development, team expansion, and broaden the reach of Scapia’s co-branded travel credit card in the Indian market.

Bengaluru-based travel fintech startup Scapia has secured $40 million in Series B funding, with Peak XV Partners leading the round. Existing investors Elevation Capital, Z47, and 3STATE Capital also participated.

The funding is expected to support product development, team expansion, and the integration of artificial intelligence into Scapia's suite of travel and financial services.

Founded by Anil Goteti, Scapia focuses on creating financial products tailored for travel, notably a co-branded credit card developed in partnership with Federal Bank. The card offers zero joining and annual fees, no forex markup, and travel-focused rewards including 10% on general spending and 20% on bookings made via the Scapia app. Additional benefits include airport lounge access and other privileges geared toward frequent travellers.

Scapia’s mobile platform also supports bookings and rewards redemption for flights, hotels, visas, and transportation, with flexible payment options such as “Travel Now, Pay Later.” The company recently introduced a RuPay version of its credit card in a bid to broaden its footprint in India’s expanding digital payments ecosystem.

Commenting on the development, founder and CEO Anil Goteti said,

“This funding represents much more than capital. It’s a validation of our core belief that travel shouldn’t be an occasional luxury that competes with other priorities, but an integral part of living a richer life.”

Tejeshwi Sharma, managing director at Peak XV Partners, noted the changing habits of younger Indian consumers.

“Millennials and Gen Z are turning travel into a guilt-free, all-pleasure experience, which is setting the stage for rapid growth in the travel industry in India. Scapia is uniquely positioned to fuel this revolution,” he said.

According to the company, Scapia users have so far used its credit card to travel to over 100 countries. Looking ahead, the company aims to further expand its product offerings and strengthen its presence across India’s growing fintech and travel markets.

Edited by Harshajit Sarmah